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Occupier Waiver Form / Occupiers Consent to Mortgage
Occupiers Consent to Mortgage
An occupier waiver form is a legal document signed by an adult living in a property who is not the mortgage borrower. By signing, the occupier acknowledges that they will vacate the property if the mortgage lender repossesses it.
Independent legal advice is often required when a property is occupied by more than one person but is not jointly owned. In such cases, the lender will request a document that waives the rights of any occupier not listed on the title deeds.
This protects the lender’s interests, ensuring that the occupier cannot interfere with the lender’s right to repossess the property if mortgage payments fall into arrears.
Common terms used by lenders for this document include
Occupier’s Waiver
Deed of Waiver
Deed of Postponement
Deed of Consent
The wording of these terms may vary, but the purpose remains the same.
Key Components of the Form
Acknowledgement of Lender’s Rights
The form confirms that the lender can repossess the property if the borrower defaults on the mortgage.
Consent to Vacate
The occupier agrees to leave the property without obstruction if the lender takes possession.
Waiver of Legal Rights
By signing, the occupier agrees not to claim any legal rights against the lender regarding their occupancy.
Advice Clause
Most lenders advise or require the occupier to seek independent legal advice to ensure they fully understand the document’s implications.
While consent and waiver are technically different, they achieve the same goal for the lender. A consent form focuses on the occupier’s agreement to mortgage conditions and vacating the property if repossessed, while a waiver form emphasizes relinquishing any rights to the property, prioritizing the lender’s rights.
Mortgage lenders have a financial interest in the property. If the borrower defaults, the lender needs to be able to take possession and sell the property without obstacles. By signing an occupier waiver form, any adult residing in the property without being named on the mortgage cannot later claim a right to stay.
Every adult over 18 living in the property as their main residence, but not named on the mortgage or deed, is typically required to sign. Although these individuals may not have legal ownership, they may still have residency rights, which the lender needs them to waive.
Family members, partners, or friends living in the property who are not part of the mortgage fall under the category of non-legal occupants. If an adult occupier does not sign the waiver, complications may arise, as they may have acquired legal rights to stay in the property, which could obstruct the lender’s repossession efforts.
If an adult occupier refuses to sign the waiver form, the lender may view this as a risk and may withhold the mortgage loan or impose additional conditions to protect their interests. The lender’s concern is ensuring they can take vacant possession without hindrance if necessary.
Lenders only seek vacant possession as a last resort, typically due to prolonged default on mortgage payments or significant breaches of the mortgage agreement. The signed occupier waiver form ensures that the lender can repossess and sell the property smoothly.
To ensure the waiver is legally binding, the occupier must be fully informed of the rights they are giving up. Most lenders require the occupier to obtain independent legal advice before signing to prevent future claims of misunderstanding or coercion.
This advice can often be provided via video conference, allowing the session to be recorded and removing the need for travel. If you need assistance with an occupier consent form, feel free to contact us for support.
How It Works
01.
Submit Your Documentation
Once we receive your Occupiers Waiver Form / Occupiers Consent Form and other relevant documents, we can schedule a video appointment.
02.
Video Call via Zoom
In a 30 minute approx video call, we’ll review lender documentation, such as the Occupiers Waiver Form / Occupiers Consent Form, and discuss any associated risks.
03.
Postage (Wet Signatures)
After the required documents are signed and witnessed, you’ll need to send them to us for stamping and certification, as wet signatures are still mandatory.
04.
Digital Copies
We’ll scan the documents, email you a digital copy, and send the originals to your solicitor on the same day we receive them.
